Friday Market Observation and Trading Ideas

Bitcoin surged to 97,000 yesterday but quickly pulled back, bottoming out at 95,089. Ethereum also declined to around 3,266. The previous bullish outlook was perfectly validated, and short-term profits have been taken. From the trend perspective, the 97,000 level is being strongly resisted; two attempts to break through have failed, making it a clear short-term resistance.

Looking at the 4-hour timeframe, the pressure becomes even clearer. The double top formed at 97,000, if not accompanied by significant volume, indicates that the rebound is just a corrective wave and unlikely to change the overall weakness. The key support below is at the 4-hour midline of 94,800, which is the first line of defense. If broken, the next focus is on the upper boundary of the previous range at 94,000-93,000. This area is crucial for this round of rebound—if it cannot hold, Bitcoin may revert to the previous choppy and weak pattern.

Trading suggestions: Short Bitcoin near 96,000-96,800, with the first target at 94,800. If broken, look further down to 93,000. For Ethereum, consider short positions around 3,330-3,350, with a target of 3,250.

#Strategy加仓BTC $ETH